Black Friday sales have failed to tempt households struggling with the higher cost of living, as retail sales for the month of November underwhelmed.
New figures suggest households are still struggling with higher living costs, as Black Friday sales failed to tempt Australians into splashing the cash in November.
The data suggests households remain wary of spending at a time where interest rates and inflation remain high, with the chance of relief in the form of an interest rate cut not due until at least February. CreditorWatch chief economist Ivan Colhoun explained the data was"neither very weak nor very strong", offering hope for households waiting on rate relief next month.
The data suggests households remain wary of spending at a time where interest rates and inflation remain high, with the chance of relief in the form of an interest rate cut not due until at least February. Picture: NewsWire/Nikki Short Despite the underwhelming result, the Australian Retailers Association was quick to celebrate the impact of"a solid spending result in a challenging year".
Australian Retailers Association Black Friday Creditorwatch RBA ARA ABS Australian Bureau Of Statistics Inflation Fleur Brown Household Spending Ivan Colhoun Retail Sales Interest Rates
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